Rutland Partners and a host of other institutional investment funds that backed Maplin will receive only a fraction of what they are owed after the electronics retailer’s collapse.
The latest administrator’s progress report from PWC has disclosed that so far Rutland, which took control of Maplin in 2014, has received only £11.3m of the £102m it was owed as a secured creditor.
It is understood that the £102m figure refers to a series of equity investments made by a multitude of funds that were managed by Rutland, and at least £40m of rolled-up interest on loan notes that was never paid out.
